Which one of our appraisal expenses should we cut?

[Doug in NC]

I've been cutting my "nerve" pills in half. I'm pleading self defense against that MB that had to have 2 more comps. I had to get him under control before someone got hurt.

That "2 more comps" underwriter notified me today. I was livid. There was no alluding to 4+ comps needed in the original order. I had three 1,000 sf +/- sales with every feature covered, all sales within a mile, good on adjustments, and all sales occurred within the past 3 months. Not surprisingly, nowhere in the written request for 2 new comps and extra addendum writing was there an indication of extra pay for this. This client has sent 2-3 orders in the last 9 months, sorry but that doesn't qualify anyone for freebies.

 

[Dirty Harry]

That "2 more comps" underwriter notified me today. I was livid. There was no alluding to 4+ comps needed in the original order. I had three 1,000 sf +/- sales with every feature covered, all sales within a mile, good on adjustments, and all sales occurred within the past 3 months. Not surprisingly, nowhere in the written request for 2 new comps and extra addendum writing was there an indication of extra pay for this. This client has sent 2-3 orders in the last 9 months, sorry but that doesn't qualify anyone for freebies.

I would consider this an opportunity to increase your profit margin. :new_multi:

"Mr. Broker I would be happy to comply with your request for additional comparables. Although I must warn you that the original comparables provided were the best available. My fee is $100 for each additional comparable, now how many did you want to order?"
woohoo

 

[Doug in NC]

I would consider this an opportunity to increase your profit margin. :new_multi:

"Mr. Broker I would be happy to comply with your request for additional comparables. Although I must warn you that the original comparables provided were the best available. My fee is $100 for each additional comparable, now how many did you want to order?"
woohoo

That's doubtful. The last time I requested a mileage charge for an above average reinspection fee on a property that is about 30 miles (about 2 hours with reinspection time) from my office, I was told to forget it. Not this time. Some office workers think our time and gas are inconsequential.

 

[Couch Potato]

That's doubtful. The last time I requested a mileage charge for an above average reinspection fee on a property that is about 30 miles (about 2 hours with reinspection time) from my office, I was told to forget it. Not this time. Some office workers think our time and gas are inconsequential.

I hope you did 'forget it' and let someone else do the job. :new_all_coholic:

 

[Doug in NC]

I hope you did 'forget it' and let someone else do the job. :new_all_coholic:

As it turns out, they decided that 2 more sales weren't needed after all. The next time they came back with 1 more sale needed. I stood my ground, agreeing only to add another comp with sufficient compensation. Now, they're going to try to get away with ZERO more comps needed, but add a little more explanation.

This client doesn't pay primo fees in the first place. Appraisers doing free work has got to stop (I know others are doing it because that's why they think they can get away with it with everyone). If the 4-5 sales idea becomes a requirement fees are going up, or this client is going off my approved lender list (man that list is getting thin :mellow.

 

[Tom Eichholz]

* Bought a Garmin GPS--not so good around new construction, but in older areas it sure saves a lot of gas driving around looking for addresses or having to pull over to read a map, especially on suburban spaghetti streets; and I've found many new shortcuts.

* Dropped a national appraisal affilliation club membership-no one outside seemed to care about it.

* Dropped Appraiser contribution and membership to a local Sales Data Source pool---found Underwriters & Reviewers only recognized MLS anyway and sometimes questioned the other's validity, which also wasted my time explaining why I used their data.

* Went to on-line ongoing education only; saves gas, time, repetition, & class aggravation (fellow students & instructors).

* Resisted repeated pressure from THE major Appraisal Software provider to switch to them from my longtime, but lesser known and much simpler & easy to use Appraisal Software provider. Probably saves me around $1,000 or more a year and I would never use most of their whistles & bells anyway, and rarely need tech support...

* Drive with tail gate down in my Tacoma truck-less wind resistance(?).

* Combine bank runs & inspections when making deposits.

 

[RSW]

I'm getting the Magic Jack phone system for my computer and am going to see if it will work as my office phone and possibly my fax line. $39.95 for the unit and for one year of service.

 

[Dirty Harry]

I'm getting the Magic Jack phone system for my computer and am going to see if it will work as my office phone and possibly my fax line. $39.95 for the unit and for one year of service.

Just ordered mine, hopefully it will take some of the pressure off just using cell service. Plus I like the idea of using a regular phone without microwaves going through my brain from the cell phone. :Eyecrazy:

 

[TC]

A long time ago one of my many bosses told me to keep your overhead low and determine how many appraisals per month you need to meet expenses.

The only thing I could cut would be switching to Efax, but they don't service my area.

So, I've decided to not drive the comps.

TC

 

[Kevin Mc]

So, I've decided to not drive the comps.

TC

Good move. If any of your clients get really Pis*y about it just hire a trainee and send him/her. While you are at it, just let them do the job (they need the experience credits). That will free you up to spend more time on your ceramics and at happy hour. Your welcome.